Suppose in Some Economy There Are 100 Million Workers; 10

question 77

Multiple Choice

Suppose in some economy there are 100 million workers; 10 million of those workers work in retail trade, and 1 million of the retail workers belong to unions. Total union membership in this economy is 40 million. The rate of unionization in retail trade is

• A)1 percent.
• B)10 percent.
• C)40 percent.
• D)100 percent.

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Definitions:

Nonrivalry

A characteristic of a good or service where one person's use does not diminish the availability or value for others, common in public goods.

Nonrival Consumption

A characteristic of certain goods where one person's use does not diminish the availability or quality of the good for others.

Rival Consumption

A situation where one person's consumption of a good reduces the ability of another person to consume the same good.

Nonexcludable

A characteristic of a good or service indicating that it is not possible to prevent non-paying customers from accessing it.